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Replication data for: Zipf's Law, Pareto's Law, and the Evolution of Top Incomes in the United States

Version
V0
Resource Type
Dataset
Creator
  • Aoki, Shuhei
  • Nirei, Makoto
Publication Date
2017-01-06
Description
  • Abstract

    We construct a tractable neoclassical growth model that generates Pareto's law of income distribution and Zipf's law of the firm size distribution from idiosyncratic, firm-level productivity shocks. Executives and entrepreneurs invest in risk-free assets, as well as their own firms' risky stocks, through which their wealth and income depend on firm-level shocks. By using the model, we evaluate how changes in tax rates can account for the evolution of top incomes in the United States. The model matches the decline in the Pareto exponent of the income distribution and the trend of the top 1 percent income share in recent decades.
Availability
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Relations
  • Is supplemented by
    DOI: 10.1257/mac.20150051 (Text)
Publications
  • Aoki, Shuhei, and Makoto Nirei. “Zipf’s Law, Pareto’s Law, and the Evolution of Top Incomes in the United States.” American Economic Journal: Macroeconomics 9, no. 3 (July 2017): 36–71. https://doi.org/10.1257/mac.20150051.
    • ID: 10.1257/mac.20150051 (DOI)

Update Metadata: 2019-10-13 | Issue Number: 1 | Registration Date: 2019-10-13

Aoki, Shuhei; Nirei, Makoto (2017): Replication data for: Zipf's Law, Pareto's Law, and the Evolution of Top Incomes in the United States. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. http://doi.org/10.3886/E114112